How Asia can reduce its dollar dependence
SINGAPORE – The U.S. dollar remains the world’s leading reserve currency, but recent developments — particularly President Donald Trump’s unilateral...
archiveASEAN
Southeast Asian regional bloc did not say it’s ‘giving up dollars’
Southeast Asian countries are promoting the use of local currencies in trade to reduce their reliance on the US dollar and...
From Malaysia to Bangladesh, Asia’s dirty money finds a home in UK property
For decades, London’s property market has offered sanctuary to fortunes of murky origins, its red-brick mansions and gleaming office blocks...
EMERGING MARKETS-Stocks advance as investors eye tariff talks, currencies steady
* Singapore stocks at all-time high * Indonesia stocks at 3-week high * China's Shanghai Composite at 9-month peak *...
Brics leaders urge cohesion, trade and use of local currency to grow Global South clout
Brics leaders have called for stronger cohesion, expanded trade and increased use of local currency to improve the Global South’s...
Emerging Asia turns away from dollar as confidence in US fades – Firstpost
The US dollar, long considered the cornerstone of international finance, appears to be losing its lustre in Asia, as countries...
Analyst: Asean integration fuels push for independent regional financial system
KUALA LUMPUR, June 28 — Greater economic integration among the members of the Association of Southeast Asian Nations (Asean) is accelerating efforts to build an independent and resilient regional financial system, aimed at reducing reliance on external currencies and enhancing monetary stability across Southeast Asia, according to a Malaysian analyst.These moves are not meant to target any specific country but rather reflect a desire to move away from external financial volatility and facilitate transactions using local currencies for intra-Asean trade, which will enable seamless cross-border transactions, provide greater market access...
China is wooing Malaysia and Indonesia with mega investments. Is the plan working?
Indonesia is bulking up its defence regardless. In January, when Japanese Prime Minister Shigeru Ishiba visited Jakarta, it was announced that Japan would give Indonesia two high-speed patrol boats and boost regional maritime security cooperation. In 2023, the Indonesian military was the only one from ASEAN that participated in a two-week training exercise between Australia and the US. Experts have pointed out that these war games, called Talisman Sabre, are designed with China in mind. It is a balancing act, however, for Indonesia: Jakarta and Beijing have plans for joint...
Asian currencies down against dollar – Business & Finance
BENGALURU: Emerging Asian equity markets opened the week higher on Monday, led by Taiwan tracking Wall Street gains, while Indonesian shares rose on strength in banking stocks. Most stock markets in the region were upbeat as an easing of trade tensions between the United States and China helped stir an appetite for risk among investors. Shares in Malaysia, Thailand and India added 0.7%, 0.1% and 1.3% respectively. “After a period of correction, ASEAN equities are showing upward momentum, having broken out of a technical downtrend that began from the 2017...
Should the US Be Worried? – The Diplomat
A decade ago, a traveler from Singapore visiting Bangkok or Jakarta would likely rely on U.S. dollars or a global credit card to settle the bill. Today, things are changing. A Malaysian tourist in Thailand can pay for street food by scanning a QR code, with money instantly debited from their account in ringgit and credited to the vendor in baht. Such small conveniences are part of a broader, quiet revolt in Southeast Asia – a concerted effort by regional governments to reduce their reliance on the U.S. dollar in...
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